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Evan Williams Resigns as Twitter CEO

'Evan Williams' was a hot Internet search term Monday afternoon, as the Twitter CEO and site co-founder announced his resignation as CEO.
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NEW YORK (TheStreet) -- "Evan Williams" was a hot Internet search term Monday afternoon as the Twitter CEO and site co-founder announced his resignation as CEO.

In a Twitter blog post, Williams said that Twitter COO Dick Costolo has been appointed to become Twitter's next CEO as Williams focuses on product strategy beginning on Monday.

Evan Williams, Twitter CEO

Williams said he made the decision in the face of numerous challenges stemming from the rapid growth of the company. Currently there are 300 people working at Twitter, compared to 20 when he took the CEO job two years ago. "Back then, people were creating about 1.25 million tweets a day -- compared to 90 million today," Williams said.

Amid these growing challenges, Williams said he feels he can serve the company most effectively in the capacity of "pushing product direction."

"When I insisted on bringing Dick into the COO role a year ago, I got a lot of questions from my board. But I knew Dick would be a strong complement to me, and this has proven to be the case," Williams said.

"During his year at Twitter, he has been a critical leader in devising and executing our revenue efforts, while simultaneously and effectively making the trains run on time in the office."

Williams said he is confident that a smooth transition will be made given Costolo's track record as a three-time successful CEO.

-- Written by Andrea Tse in New York.

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